OFZ-PD 26221
15.94%
yield to maturity
Price
69.45%
700 ₽ with accrued interest
Coupon
7.70%
2×/yr
Maturity
23.03.2033
term 6.4 y
Duration
4.8 y
price −4.1% per +1 pp of rate
Daily turnover
66.7 mn ₽
30-day average
Credit risk
Government bond
sovereign
Price and yieldhow the bond has traded
Bond price, % of par
Incomewhat your investment will earn and when payments arrive
Yield calculator
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Effective YTM under the MOEX convention (ACT/365).
Expected income and buffer · for the year
Over the key rate+194 bp
Roll-down (year)+0.32%
Expected income+16.26%
Safety buffer+390 bp
Cash flows
| Date | Coupon, ₽ | Principal, ₽ | Total, ₽ |
|---|
Coupon payments and principal repayment by date for one bond. On the chart, coupons use the left axis and face value the right one.
Interest-rate riskhow the price will react to rising and falling rates
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bp yield
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Peersthe OFZ curve and issues with a similar maturity
The OFZ curve
31 issues with a fixed coupon.
duration, years →
● this bond · yield, % ↑
OFZ with a similar maturity
Other fixed-coupon OFZ with a similar maturity
OFZ-PD 26244
matures 03.2034
16.42%
OFZ-PD 26252
matures 10.2033
16.35%
OFZ-PD 26225
matures 05.2034
16.29%
OFZ-PD 26245
matures 09.2035
16.57%
OFZ-PD 26241
matures 11.2032
15.91%
OFZ-PD 26246
matures 03.2036
16.58%
Government debtMinistry of Finance debt on the exchange and redemptions by year
Government debt on the exchange
Circulating39.74 tn ₽ 83 issues
Of which in foreign currency3.96 tn ₽ 25 issues · CNY, EUR, USD
Due within a year5%
Cost of rouble debt10.87% market 15.37%
Government debt maturities by year
2026155.1 bn
20271.8 tn
20282.1 tn
20292.7 tn
20302.6 tn
20312.4 tn
20322.9 tn
20332.8 tn
in roublesin FX, at the Bank of Russia rate
From 2034 onwards — another 22.3 tn ₽. All of the issuer's bonds are in the section “OFZ curve”.
History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
15.9%
the rate is fixed for 6.4 y
Deposit
13.1%
top-10 banks, decade 2 of October 2026
Liquidity fund
13.6%
floats with the CBR key rate
The yield is 2.9 pp above the deposit rate. The bond's rate is fixed until maturity: if the Bank of Russia cuts the key rate, rates on new deposits and the liquidity fund yield will fall, while the bond's income will stay the same.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax, but with 3+ years of holding the gain to par is exempt (long-term holding relief) — see the “After-tax yield” row in the bond parameters (≈ 14.0%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.
Issue parametersterms, buying now, yields and spreads
Terms
Coupon7.70% a year · 2 payments/yr
Coupon, ₽38.39
Par1 000 ₽
Maturity23.03.2033 · 6.4 y
Issue
Listing level1
Issue size396.27 bn ₽
Lot1 units
Buying now
Order book69.51 / 69.59%spread 0.08% (≈2 bp of yield)
Cost of entry≈ 58 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽5.90 as of 28.10.2026
Trades today1112 · turnover 19.0 mn ₽
Yields
Current yield11.09%
Simple yield17.80%
After-tax yield14.01% / 13.71% at 15%
- with the long-term holding relief (3+ years)14.56%
Spreads and valuation
Attractiveness score60/100
MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).